Nokia in Q3 loss, sales drop amid networks downturn

Markets Associated Press

Nokia says it made a net loss in the third quarter and saw a 12-percent drop in sales amid a downturn in the networks industry, as the company reported combined results after the acquisition of Alcatel-Lucent.

Continue Reading Below

The Finland-based networks operator says the net loss was 125 million euros ($136 million) on sales of 5.9 billion euros in the period. A year earlier Nokia reported a stand-alone profit of 152 million euros on sales of 3 billion euros.

The technologies section of the business more than doubled sales to 353 million euros, mainly due to a licensing agreement with Samsung.

CEO Rajeev Suri described the third-quarter performance as "solid ... despite market conditions that are softer than expected."

He gave a guardedly optimistic full-year outlook, saying operating margins are expected to grow by 7-9 percent.